According to Reliance Industries Limited, the biggest investment of Asia will be made in Jio platform by KKR. KKR is a New York-based company.
The investment will translate into 2.32% equity stake in Jio Platforms on a fully diluted basis. The KKR is making the investment from its Asia private equity and growth technology funds and the transaction is subject to regulatory and other customary approvals.
An aggregate amount of Rs. 78,562 crore will be invested in Jio by foreign investors like Facebook, Silver Lake, Vista, General Atlantic and KKR.
KKR has 388 million subscribers and has a history building leading global enterprises and successfully investing in businesses in the technology sector through its private equity and technology growth funds while jio platform is a next-generation technology platform focused on providing high-quality and highly-affordable services to its customer.
KKR has invested over USD 30 billion in different tech companies since its establishment. The firm has over 20 companies across the technology, media and telecom sector in the portfolio all over the world.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries is highly delighted to welcome one of the world’s most respected financial investor, KKR as a valued partner in our onward march to growing and transforming the Indian digital ecosystem for the benefit of Indians. The company shares our ambitious goal of building a premier digital society in India.
He further added that KKR has a proven track of being a valuable partner to industry-leading franchises and has been committed to India for many years. They are looking forward to leveraging KKR’s global platform, industry knowledge and operational expertise to further grow Jio.
KKR Co-founder and Co- CEO, Henry Kravis said that only a few companies in the country have the potential to uplift the country’s digital platform in the way Jio Platform is doing in India. He added that we are investing in Jio by its impressive momentum and world-class innovation along with a strong leadership team. The company views this investment as a landmark of strong indication of KKR’s commitment to supporting leading tech companies in India and the Asian Pacific